Center for American Progress

A Year of Impact: The Anniversary of the Inflation Reduction Act
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A Year of Impact: The Anniversary of the Inflation Reduction Act

In this story collection from the Center for American Progress Action Fund, Americans celebrate how the Inflation Reduction Act has benefited their lives in the year since its passage.

On August 16, 2022, President Joe Biden signed the Inflation Reduction Act into law. It aims to reduce inflation by spurring new domestic manufacturing projects and lowering costs for Americans, all while making historic investments toward climate goals. In one short year, the Inflation Reduction Act has created an estimated 170,606 jobs, and 272 new clean energy projects have been announced. Millions of Medicare recipients are saving hundreds of dollars annually on prescriptions. As the largest investment in addressing climate change in American history, the Inflation Reduction Act is bringing once-in-a-lifetime investments to communities across the country.

The law will shape the future of America in the coming years and decades—and in just the first year since its passage, it has had tangible impacts on everyday Americans. This collection features a few of the many Americans who have benefited from the Inflation Reduction Act.

The above excerpt was originally published in Center for American Progress Action Fund. Click here to view the story collection.

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